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Will you start bitcoin mining if power is free ?
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Will you start bitcoin mining if power is free ?

noamannoaman Member
edited October 2017 in General

Hello

I currently have access to electricity where i dont have to pay bill

I have to pay at least 25 usd for 55gb monthly bandwidth

If i start mining will it be profitable like 200usd per month or not?

What will be the initial cost

«13456

Comments

  • CloudxtnyHostCloudxtnyHost Member, Host Rep

    With all things as complex as crypto mining, it depends. You should do some research on the coin you want to mine and how much mining power you can get within your free electricity tolerance.

    It's always a hard one to predict as mining difficulty and pool size will also impact profitability.

  • are your parents paying the bill?

  • raindog308raindog308 Administrator, Veteran

    noaman said: I currently have access to electricity where i dont have to pay bill

    I have to pay at least 25 usd for 55gb monthly bandwidth

    If i start mining will it be profitable like 200usd per month or not?

    What will be the initial cost

    Will it be profitable? What is the initial cost? Dude, GTFO. You're asking people to figure every thing out for you so you can sit back and collect the money.

  • @noaman said:
    Hello

    I currently have access to electricity where i dont have to pay bill

    How? Electricity is crazy expensive in Pakistan.

  • in some/most parts of the Pakistan people don't even pay for the Electricity

    @HammadKhan said:

    @noaman said:
    Hello

    I currently have access to electricity where i dont have to pay bill

    How? Electricity is crazy expensive in Pakistan.

  • University, Office, or stolen link.

    What else do you think it would be?

  • Sure it's profitable at some point if you don't have recurring costs. Use some online profitability calculator and do the math. Probably nobody here will guide you through it.

    By the way, somebody is always paying for your electricity. And if you abuse it you are either in trouble or everybody else pays for you. There is no way you can use unlimited free electricity anywhere without being a dick.

  • stefemanstefeman Member
    edited October 2017

    If its included in ur rent, that will change very quickly once the landlord starts getting 10x larger electricity costs. I wouldnt invest into something that can be taken from you very quickly.

  • raindog308raindog308 Administrator, Veteran

    stefeman said: If its included in ur rent, that will change very quickly once the landlord starts getting 10x larger electricity costs. I wouldnt invest into something that can be taken from you very quickly.

    Someone I know rented an apartment and electricity was included in the rent.

    This gave him a brilliant idea for a business plan.

    However, his landlord was not amused that he'd turned his spare bedroom into a marijuana grow room running thousand-watt lights 24x7...

  • noamannoaman Member
    edited October 2017

    I work at a coal power plant

    No one really cares how much you are using electricity

  • @raindog308 said:

    noaman said: I currently have access to electricity where i dont have to pay bill

    I have to pay at least 25 usd for 55gb monthly bandwidth

    If i start mining will it be profitable like 200usd per month or not?

    What will be the initial cost

    Will it be profitable? What is the initial cost? Dude, GTFO. You're asking people to figure every thing out for you so you can sit back and collect the money.

    I just wanted an opinion not an analysis

  • ClouviderClouvider Member, Patron Provider

    noaman said: opinion

    Don't steal electricity from your employer.

  • @Clouvider said:

    noaman said: opinion

    Don't steal electricity from your employer.

    I am not stealing i am using it an effective manner

  • stefemanstefeman Member
    edited October 2017

    @Clouvider said:

    noaman said: opinion

    Don't steal electricity from your employer.

    This.. if you asked ur boss "can I setup a 1000W crypto currency farm using ur electricity 24/7 for extra income", he would probly deny your request.

    idk how you do things in pakistan, but In western countries we have basic workplace ethics that every employee follows. Its not customary for us to steal everything thats not bolted into the floor.

    Thanked by 2inthecloudblog Pwner
  • @Clouvider said:

    noaman said: opinion

    Don't steal electricity from your employer.

    Besides we have to waste atleast coal /steam required to produce 500kw of electricity
    As we have to accommodate the shutting down and starting of big machinery in the textile mills (which are the buyer's of electricity from our powerplant) otherwise turbine would trip

    So i wont say that i am stealing

  • @stefeman said:

    @Clouvider said:

    noaman said: opinion

    Don't steal electricity from your employer.

    This.. if you asked ur boss "can I setup a 1000W crypto currency farm using ur electricity 24/7 for extra income", he would probly deny your request.

    He wouldn't even know what is bitcoin

    As long as you keep the plant running they are happy

  • stefemanstefeman Member
    edited October 2017

    @noaman said:

    @stefeman said:

    @Clouvider said:

    noaman said: opinion

    Don't steal electricity from your employer.

    This.. if you asked ur boss "can I setup a 1000W crypto currency farm using ur electricity 24/7 for extra income", he would probly deny your request.

    He wouldn't even know what is bitcoin

    As long as you keep the plant running they are happy

    I like how you ignored the second paragraph about workplace ethics.

    If the workers are like you, who guarantees ur gear isint stolen in the first night when you also scam your boss for free electricity.

  • WilliamWilliam Member
    edited October 2017

    chrisp said: There is no way you can use unlimited free electricity anywhere without being a dick.

    Not ENTIRELY true, some oil rich arab countries had free power until some years ago - all the way from end-user to industrial. Most still highly subsidize energy, a lot of Egypts budget ends in this (and they have no oil, so this is a problem).

    On the scale of an oil monarchy with only a few million people the entire countries power usage was budget wise absolutely not relevant in any way to them.

  • @stefeman said:

    @noaman said:

    @stefeman said:

    @Clouvider said:

    noaman said: opinion

    Don't steal electricity from your employer.

    This.. if you asked ur boss "can I setup a 1000W crypto currency farm using ur electricity 24/7 for extra income", he would probly deny your request.

    He wouldn't even know what is bitcoin

    As long as you keep the plant running they are happy

    I like how you ignored the second paragraph about workplace ethics.

    If the workers are like you, who guarantees ur gear isint stolen in the first night when you also scam your boss for free electricity.

    IMHO
    It doesn't violates any work ethics

    The electricity is free for workers and it should be

    The electricity i would consume is peanuts to them

    But if i told them they would ask me how does bitcoin work?

    They are not tech savvy at all

    :-)

  • WSSWSS Member

    You're kind of a thieving dick, FWIW.

  • @noaman said: The electricity is free for workers and it should be

    Is that the law or did you just make that up?

  • pikepike Veteran

    I don't think OP is a thief. This obviously is how stuff works in his place. No one would notice what he is doing and no one would care because they deliver electricity to the industry (I guess at a fixed rate and at a big scale).

    If you find it okay to harass someone just because he openly told you what he plans to do you should overthink your attitude.

    Thanked by 1Chronic
  • WSSWSS Member

    @pike said:
    I don't think OP is a thief. This obviously is how stuff works in his place. No one would notice what he is doing and no one would care because they deliver electricity to the industry (I guess at a fixed rate and at a big scale).

    The power is being offered to do his job. This is not his job. He's looking at ways to misuse what is being given him. This isn't any different than stealing food at a restaurant you happen to work for.

    If you find it okay to harass someone just because he openly told you what he plans to do you should overthink your attitude.

    If I can't trust you, I can't employ you. Period.

  • WilliamWilliam Member
    edited October 2017

    pike said: I don't think OP is a thief. This obviously is how stuff works in his place. No one would notice what he is doing and no one would care because they deliver electricity to the industry (I guess at a fixed rate and at a big scale).

    ...? Just because everyone does it it's not legal; everyone in UK smokes weed yet it is not legal. Crime is crime.

    pike said: If you find it okay to harass someone just because he openly told you what he plans to do you should overthink your attitude.

    Knowingly encouraging illegal activity is a crime.

    Thanked by 1WSS
  • AnthonySmithAnthonySmith Member, Patron Provider

    Only if you mine with a sega megadrive.

  • WSSWSS Member

    @AnthonySmith said:
    Only if you mine with a sega megadrive.

    I'm waiting for the CD32 port, myself.

  • raindog308raindog308 Administrator, Veteran

    OP may be legit. For example, I know some folks who live in semi-rural Russia and run the power plant there. They don't pay for electricity at home. Everyone else does, but if you work there, free power is a "benefit". May not be written anywhere or officially acknowledged, but everyone in the company (including the directors) knows about it. This kind of arrangements in less developed nations are not uncommon.

    However, we're talking about coal here. While I realize the world still runs on coal, burning more of it to make an extra $5 a month from mining seems pretty ethically dubious in light of global warming.

    Wait...actually, global warming will destroy both San Francisco and New York. How can we help?

  • Sadly this attitude prevails in most southeast Asian countries. While power is stolen infants die in hospitals because incubators stop working from power cuts (fact).

  • AnthonySmithAnthonySmith Member, Patron Provider

    WSS said: I'm waiting for the CD32 port, myself.

    Too powerful for mining.

  • AnthonySmithAnthonySmith Member, Patron Provider

    raindog308 said: OP may be legit.

    Maybe, however, he has not stated what he is going to mine, what he paid for the mining rig, if he plans to mine with a potato etc, so the only real answer I guess is: It could be, certainly more likely than if your having to pay for the power but I guess (I hope) he already cold work that much out for himself, if he could not, then the answer has to be no, unless you find someone to hold your hand from start to finish.

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